Waste Connections, Inc. (NYSE:WCN) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Waste Connections has an average analyst rating of “Moderate Buy” from 21 covering firms, with 14 buy ratings and 3 strong buy ratings. The average 1-year price target is about $202.84.
• The company reported Q1 earnings of $1.23 per share, topping estimates by $0.04, while revenue rose 6.4% year over year to $2.33 billion. Analysts expect full-year earnings of $5.50 per share.
• Insider and institutional activity was notable: executives sold shares recently, while institutional ownership remains high at 86.09%. Waste Connections also paid a quarterly dividend of $0.35 per share, or $1.40 annualized, for a 0.9% yield.

Waste Connections, Inc. (NYSE:WCN - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the twenty-one ratings firms that are presently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $202.8421.

Several analysts have commented on the company. Royal Bank Of Canada restated an "outperform" rating and issued a $218.00 price target (up from $210.00) on shares of Waste Connections in a report on Friday, April 24th. BMO Capital Markets restated an "outperform" rating and issued a $208.00 price target (up from $206.00) on shares of Waste Connections in a report on Friday, April 24th. Weiss Ratings cut Waste Connections from a "hold (c+)" rating to a "hold (c)" rating in a report on Wednesday, May 13th. JPMorgan Chase & Co. lifted their price target on Waste Connections from $195.00 to $210.00 and gave the company an "overweight" rating in a report on Friday, April 24th. Finally, Wolfe Research assumed coverage on Waste Connections in a report on Friday, March 13th. They issued an "outperform" rating and a $199.00 price target for the company.

Insider Buying and Selling

In other news, VP James Little sold 2,605 shares of the business's stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $163.98, for a total transaction of $427,167.90. Following the completion of the sale, the vice president owned 34,395 shares in the company, valued at approximately $5,640,092.10. The trade was a 7.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Patrick James Shea sold 7,500 shares of the business's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $156.26, for a total value of $1,171,950.00. Following the sale, the vice president owned 19,737 shares of the company's stock, valued at $3,084,103.62. The trade was a 27.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 17,605 shares of company stock worth $2,822,923 over the last ninety days. Insiders own 0.27% of the company's stock.

Institutional Trading of Waste Connections

A number of institutional investors have recently modified their holdings of WCN. Norges Bank purchased a new stake in shares of Waste Connections during the 4th quarter worth about $697,519,000. Capital International Investors grew its holdings in shares of Waste Connections by 28.2% during the 4th quarter. Capital International Investors now owns 6,468,259 shares of the business services provider's stock worth $1,134,781,000 after purchasing an additional 1,420,921 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Waste Connections by 37.1% during the 4th quarter. JPMorgan Chase & Co. now owns 4,763,742 shares of the business services provider's stock worth $835,370,000 after purchasing an additional 1,289,042 shares during the period. Wellington Management Group LLP grew its holdings in shares of Waste Connections by 39.6% during the 3rd quarter. Wellington Management Group LLP now owns 4,455,162 shares of the business services provider's stock worth $783,218,000 after purchasing an additional 1,264,150 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Waste Connections by 48.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 3,724,204 shares of the business services provider's stock worth $604,573,000 after purchasing an additional 1,219,056 shares during the period. Hedge funds and other institutional investors own 86.09% of the company's stock.

Waste Connections Trading Up 0.3%

Shares of WCN stock opened at $155.88 on Friday. The firm has a 50-day moving average price of $157.68 and a 200 day moving average price of $165.15. Waste Connections has a twelve month low of $146.89 and a twelve month high of $192.72. The company has a market capitalization of $39.55 billion, a price-to-earnings ratio of 38.02, a PEG ratio of 2.77 and a beta of 0.51. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.13.

Waste Connections (NYSE:WCN - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The business services provider reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.04. Waste Connections had a net margin of 10.97% and a return on equity of 16.49%. The firm had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the previous year, the company posted $1.13 EPS. The firm's revenue for the quarter was up 6.4% on a year-over-year basis. Research analysts forecast that Waste Connections will post 5.5 earnings per share for the current fiscal year.

Waste Connections Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Wednesday, May 6th were issued a $0.35 dividend. The ex-dividend date was Wednesday, May 6th. This represents a $1.40 annualized dividend and a yield of 0.9%. Waste Connections's payout ratio is 34.15%.

Waste Connections Company Profile

Waste Connections NYSE: WCN is a North American integrated waste services company that provides a range of solid waste and environmental services to municipal, commercial, industrial and residential customers. The company offers collection, transportation, transfer, disposal and recycling services, and operates an extensive network of transfer stations and disposal facilities. Waste Connections positions itself as a provider of infrastructure-driven waste solutions across many regions of the United States and Canada.

The company's operating activities include routine curbside and commercial collection, roll-off and container services, operation of landfills and transfer stations, and recycling and resource recovery programs.

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